Modular Construction Market Overview, Size, Share, CAGR, Forecast To 2033
Overview and Scope Modular construction is a process in which buildings are manufactured off-site while adhering to the same building norms and requirements as traditional construction methods. It is utilised in the construction of various buildings since it has numerous advantages such as saving time, lowering labour costs, reducing waste volume, and boosting productivity by delivering standardised components. Sizing and Forecast The modular construction market size has grown strongly in recent years. It will grow from $95.68 billion in 2023 to $102.52 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to industrialization and mass production principles, post-war housing demands, cost and time efficiency, sustainability awareness, transportation infrastructure development.. The modular construction market size is expected to see strong growth in the next few years. It will grow to $138.37 billion in 2028 at a compou